Lorillard, the third largest tobacco cigarette manufacturer in the United States (most known for the Newport), has leaped into the electronic cigarette market with the purchase of Blu Ecigs for $135 million dollars!
With big tobacco companies showing loses in sales, this is hardly a surprise.
blu ecigs are the perfect adjacency for us to participate in the smokeless market, but in a Lorillard way,” Murray Kessler, chairman, CEO and president of Lorillard, said in a statement. “We believe that blu will benefit from Lorillard Tobacco Company’s regulatory experience and sales infrastructure which are needed for it, and the category, to reach its potential in a responsble manner.
Big Tobacco Enters Electronic Cigarette Market
Get ready everyone, the tide is a changin!
I think the keyword here is, “regulatory experience”.